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18037 Pelkey Street

Detroit, MI 48205
  • $599,000
  • STATUS: Active
  • ON SITE: 21 Days
  • MLS #: 20251008703
Price Reduced
UPDATED: 41 min ago
$599,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,364
    SQFT
  • $112
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1929
County:
Zoning:
Multi-Family
Lot Size Dimensions:
40 x 126

School Ratings & Info

School District:

Description

REDUCED! LOCATED 8 MINUTES FROM THE INFAMOUS EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 18037 PELKEY NESTLED ON A 5,364 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 10 RECENTLY REMODELED 1 BED ROOM UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. 10 OF THE 10 UNITS ARE LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST UNDER $10,000 PER MONTH. THE TENANTS PAY ALL UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN OVER 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.

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IDX provided courtesy of Realcomp II Ltd. via Berkshire Hathaway HomeServices Snyder & Company, Realtors® and Realcomp II Ltd.. © 2025 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Berkshire Hathaway HomeServices Snyder & Company, Realtors® are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2025-07-08T17:04:19.183.
www.bhhssnyder.com/homes/164959063
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18037 Pelkey Street Detroit, MI 48205

  • Price: $599,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 41 min ago
  • MLS #: 20251008703
0
Beds
0
Baths
0
½ Baths
0.12
Acres
5,364
SQFT
$112
$/SQFT
1929
Built
Neighborhood:
Trombley Park
County:
Wayne
Area:
Det 8 To Gratiot/Houston To 7
School District:
DETROIT
Property Description
REDUCED! LOCATED 8 MINUTES FROM THE INFAMOUS EAST ENGLISH VILLAGE DISTRICT, YOU WILL FIND 18037 PELKEY NESTLED ON A 5,364 SQUARE FOOT LOT IN A QUIET NEIGHBORHOOD OF HOMEOWNERS. THIS CROWN JEWEL BOASTS A BRAND NEW ROOF TO ENSURE REPEAT DIVIDENDS FOR MANY YEARS TO COME. YOUR APARTMENT COMPLEX CONSISTS OF 10 RECENTLY REMODELED 1 BED ROOM UNITS. EACH UNIT HAS BEEN UPGRADED AND HAS ENTIRELY BRAND NEW ELECTRICAL AND PLUMBING TO INSURE MAINTENANCE FREE CASH FLOW. FURTHERMORE THE ENTIRE COMPLEX HAS NEW ELECTRICAL AND PLUMBING FROM TOP TO BOTTOM. EACH SPACIOUS UNIT HAS FRESHLY ROLLED PAINT AND BRAND NEW CARPET WITH TOP OF THE LINE UNDERLAYMENT. 10 OF THE 10 UNITS ARE LEASED TO SECTION 8 TENANTS AND THE MONTHLY DIVIDENDS ARE JUST UNDER $10,000 PER MONTH. THE TENANTS PAY ALL UTILITIES, WHICH ALLOWS THIS COMPLEX TO MAINTAIN OVER 20% CASH ON CASH RETURN. PROPERTY TAXES HAVE BEEN REDUCED TO ROUGHLY $100 PER MONTH. THIS DIAMOND WILL BE WRAPPED AROUND A LUCKY OWNER'S FINGER SOON! NO SHOWINGS WITHOUT ACCEPTED FULL LIST OFFER.
Exterior Features

Architecture Level 2 Story Construction Materials Brick Foundation Details Basement Foundation Materials Brick/MortarPoured Lot Size Dimensions 40 x 126 Road Frontage Feet 40 Road Frontage Type Paved Roof Material Other Waterfront YN No

Interior Features

Building Area Source Prior Listing Commercial Utilities Circuit Breakers Heating Cooling BaseboardHot Water Heating Fuel Electric Sq Ft Main 5364 Unit Efficiency Number Of 0 Unit Four Bed Number Of 0 Unit One Bed Number Of 10 Unit Three Bed Number Of 0 Unit Two Bed Number Of 0 Water Heater Fuel Natural Gas

Property Features

Commercial Type ApartmentsReal Estate Only Existing Lease YN Yes Gross Scheduled Income 120000.00 Inventory Included YN No Land Contract YN No Listing Financing CashConventional Net Operating Income 120000.00 Operating Expense 0.00 Ownership Status Short Sale - NoPrivate Owned Percent Leased 100 Possession At Close Postal City Detroit Protection Period 180-Days Settlement City Sewer Public Sewer (Sewer-Sanitary) Short Sale No Tax Amount Summer 9845.0000 Tax Amount Winter 12593.0000 Title Standard (Private) Total Tax 22438.0000 Unparsed Address 18037 Pelkey Street Water Source Public (Municipal) Year Remodeled 2025 Zoning Multi-Family

Realcomp IDX logo IDX provided courtesy of Realcomp II Ltd., via Brookstone, Realtors LLC: (248) 963-0505 and Realcomp, ©2025 Realcomp II Ltd. Shareholders.


IDX provided courtesy of Realcomp II Ltd. via Berkshire Hathaway HomeServices Snyder & Company, Realtors® and Realcomp II Ltd.. © 2025 Realcomp II Ltd. Shareholders. Real estate listings held by brokerages other than Berkshire Hathaway HomeServices Snyder & Company, Realtors® are marked with the Realcomp-approved IDX logo and are provided through IDX through Realcomp II Ltd. IDX information is provided exclusively for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Data last updated: 2025-07-08T17:04:19.183.
 
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